Lucent nets $338m profit

THE largest US telephone-equipment maker, Lucent Technologies Inc, had first-quarter net income of $338 million as sales rose for the first time in more than three years on demand for wireless-network gear.

Net income was 7 cents a share, compared with a loss of $264m, or 11 cents, in the year-earlier quarter ended December 31, Lucent said in a statement.

Sales rose 8.9% to $2.26 billion, the first year-over-year increase since September 2000.